Fintec Drops Plan to Acquire Zouk Club KL

Fintec drops plan to acquire Zouk Club KL

Wednesday, 26 Jun 20197:51 PM MYT


KUALA LUMPUR: Fintec Global Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png has aborted a plan to acquire a 75% stake in club operator Zouk Club (KL) Sdn Bhd.



The company, in a filing with Bursa Malaysia today, said the deal was terminated due to non-fulfillment of certain conditions precedent.


In March this year, Fintec said it is buying a 75% stake in Zouk Club KL for RM28.95mil.

"The vendors shall refund in full the deposit in the amount of RM3mil within seven days from the date of the termination on June 26," it said.


Read more at https://www.thestar.com.my/business/business-news/2019/06/26/fintec-aborts-plan-to-acquire-zouk-club-kl/#0JqMAdjVCJJJiv39.99